KeyCorp (KEY) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of KeyCorp (NYSE:KEY) from a hold rating to a buy rating in a report released on Friday morning.

Several other analysts have also commented on KEY. Wells Fargo & Company initiated coverage on KeyCorp in a report on Wednesday, August 9th. They set a market perform rating and a $19.00 target price on the stock. Sanford C. Bernstein raised KeyCorp from a market perform rating to an outperform rating and raised their target price for the stock from $21.00 to $22.00 in a report on Thursday, September 14th. Zacks Investment Research lowered KeyCorp from a hold rating to a sell rating in a report on Tuesday, September 19th. Robert W. Baird reaffirmed a hold rating and set a $18.00 target price on shares of KeyCorp in a report on Friday, October 6th. Finally, Citigroup raised their target price on KeyCorp from $19.00 to $20.00 and gave the stock a neutral rating in a report on Monday, October 9th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $20.97.

Shares of KeyCorp (KEY) traded up $0.15 during trading hours on Friday, hitting $19.13. The stock had a trading volume of 15,609,900 shares, compared to its average volume of 10,979,460. KeyCorp has a 1 year low of $16.28 and a 1 year high of $19.53. The stock has a market capitalization of $20,572.40, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. KeyCorp’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. research analysts expect that KeyCorp will post 1.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.105 dividend. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, November 27th. KeyCorp’s dividend payout ratio (DPR) is presently 36.84%.

In other KeyCorp news, Director Elizabeth R. Gile acquired 1,374 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at $455,549.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Zions Bancorporation boosted its stake in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of KeyCorp in the third quarter worth approximately $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of KeyCorp in the third quarter worth approximately $145,000. Sun Life Financial INC boosted its stake in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 8,037 shares during the last quarter. Finally, AllSquare Wealth Management LLC acquired a new stake in shares of KeyCorp in the third quarter worth approximately $173,000. 81.20% of the stock is currently owned by institutional investors.

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KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for KeyCorp (NYSE:KEY)

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